Council caught a first glimpse of the town’s 2020 draft budget on Thursday, and, while things could change, it appears your taxes could go down.
“Based on the proposed budget that staff are recommending to council, we could have a 1.36% decrease in the tax rate, which would then translate to a decrease of approximately $31 for an average property,” said Treasurer Marjory Leonard during her presentation on the budget overview.
The average residential property in Collingwood is assessed at $324,385.
The total draft budget for the town comes in at $90.2 million, down from $93.1 million in 2019. The operating budget (cost of day-to-day operations) is projected to be $58.8 million, while the capital (new or long-term projects) budget is pegged at $31.4 million.
Looking into 2020, chief administrative officer Fareed Amin said he plans to keep pushing for a customer-centred focus.
“Customer service is going to be a relentless focus,” said Amin. “We’re going to improve services and types of channels.”
Amin discussed some of the challenges the 2020 budget presented in trying to allot funding.
“The judicial inquiry is costing us much more than we anticipated,” said Amin, adding the capital reserve fund, the supplementary assessment fund and the capital contingency fund are now all depleted due to the exercise.
“I think council has a choice to make in terms of, how do we repopulate and replenish those funds, and where do we get the funding to do this?” said Amin.
Leonard added in her budget comments that it had taken 10 years for the town to build up those reserves.
“I haven’t even added the October and November costs (yet),” said Leonard.
Once the municipality determines their tax rate, that rate will need to be blended with the county and education portions to come up with a final number.
Budget tinkering will continue on Monday. Councillors were encouraged to write down questions for department heads, who will be answering questions on the budget at the Dec. 9 strategic initiatives standing committee meeting, which takes place at 1 p.m. in council chambers. The public will also be encouraged to ask questions.
An informal Coffee with Council session will take place on Dec. 10 to provide an additional opportunity for those who would like to share their feedback on the budget.
The final budget will be presented to council on Dec. 16 for approval.
To read the 2020 draft budget, click here.
Key initiatives in the 2020 Draft Budget
- Third and High Street intersection improvements - $3 million
- Lockhart and Hurontario Street intersection turning lanes - $1.6 million
- Transit bus replacement - $1.6 million
- Stewart Road reservoir - $1.2 million
- Black Ash Pumping Station upgrade - $2.8 million
- Sunset Point Enviropark replacement - $800,000
- Harbourview Park Splash Pad - $1.5 million
- Fisher Field Clubhouse - $910,000
